Analyst Presentation Q113

Transcription

| People Building Partnerships
Q1FY13 Financial Results
July 23, 2012
Recipient of Frost & Sullivan 2011 Global Enabling
Technology Award for Computer-aided Design
Macro Overview
• Opening up of Engineering Services Market
• Euro crisis (short term)
• Demographics in customer geographies
(ageing skilled labor)
• Forex fluctuations
• Engineering talent crunch
• Offset policy in Aerospace & Defense
• Leverage of emerging technologies for
competitiveness
To take advantage of this situation and emerge as a
leader in digital product realization, strategies are
in place to:
• Grow verticals, offerings portfolio, alliances and
targeted geographies
• Strengthen our base and domain knowledge
Focused
Offerings
Vertical
Industries
People
Key
Alliances
Emerging
Geographies
Processes
© Geometric Limited | www.geometricglobal.com
The Right Building Blocks
• Verticals:
• Continued focus on key verticals of Automotive and
Industrial customers
• Strong thrust towards increasing revenues from
Aerospace & Defense
• Fortify our capabilities in Oil & Gas
• Offerings:
• Build specific capabilities in Embedded Systems and
for Intelligent Engineering
• Enhance and globalize our existing offerings
• Business Model: Scale Engineering business through
differentiated business models with customers
• Geographies:
• Expand local presence in Europe
• Explore more partner-led customer acquisitions in
Japan
Strengthening the Base
• People:
• Special focus on increasing stickiness and retaining skilled
manpower
• Added multiple experts across geographies to fortify the
Sales team as well as an industry veteran to strengthen
our Consultancy Group
• Processes:
• Introducing a Lean productivity framework to improve
delivery
• Incubating solution accelerators and automation tools for
improving time-to-delivery
• Increased collaboration, and sharing of knowledge and
best practices
FINANCIALS
Summary (Q1 FY13)
Revenue USD
INR 2,608.07
QoQ 16.0%↑
60.00
Revenues INR
47.80
50.00
41.40
36.25
40.00
42.60
44.92
7.17%
10 quarter
38.59
37.84
CQGR
32.80
30.00
27.84
29.59
INR 206.60
20.00
Net Income
10.00
INR 452.95
Q4 FY10
Q1 FY11
Q2 FY11
Q3 FY11
Revenue USD
Q4 FY11
Q1 FY12
Q2 FY12
Q3 FY12
Q4 FY12
Q1 FY13
Linear (Revenue USD )
INR 3.30
*figures in millions
EBITDA
EPS
Summary
• In USD terms, consolidated operating revenues for the quarter increased by 6.4% sequentially, and 23.9%
yoy, whereas it increased by 16.0% and 51.0% respectively in INR terms
• In USD terms, consolidated (excluding 3D PLM) operating revenues for the quarter increased by 4.5% sequentially
and 19.3% yoy, whereas it increased by 13.4% and 45.4% respectively in INR terms
• EBITDA margin for the quarter is 17.4% against 12.1% in Q4 12 mainly due to higher Contribution which is attributed
to efficiency in operations and positive exchange impact
• Effective tax rate for the quarter is 35.5% as against 10.2% in Q4 12 as all entities are at a full rate of taxation during
the quarter
• Adjusted EPS for the quarter is 3.15 as against 2.80 in Q4 12 and 1.64 in Q1 12 – EPS adjusted for foreign exchange
gain/(loss) on subsidiary revaluation, and consultant fee
• New contracts amounting to USD 10.34 Mn awarded during the quarter
• Total headcount is up from 4567 in Q4 12 to 4636 in Q1 13
7
Income Statement: Consolidated
(figures in INR millions)
Income Statement
Operating Revenue (in USD millions)
Exchange Rate
Operating Revenue
Cost Of Revenue (COR)
Contribution
Contribution as % of Operating Revenue
Sales & Marketing (S&M) Expense
General & Administrative (G&A) Expense
Interest and bank charges
Depreciation and Lease Rental
Operating Profit
Operating Profit as % of Operating Revenue
Other Income
Profit Before Tax
PBT as % of Operating Revenue
EBITDA
EBITDA as % of Operating Revenue
Tax
Minority Interest
Profit After Tax (for the period)
PAT as % of Operating Revenue
Prior Period Adjustments
Adjusted Profit After Tax
EPS
Non-recurring items
Less:Fx gain/(loss) on subsidiary asset revaluation
Add: Consultant Fee
EPS (adjusted for non-recurring items)
Q1 13
47.80
54.56
2608.07
1572.94
1035.13
39.7%
100.93
407.48
8.25
74.29
444.18
17.0%
(70.35)
373.83
14.3%
452.95
17.4%
132.83
34.40
206.60
7.9%
Q4 12
Q1 12
206.60
7.9%
44.92
50.08
2249.30
1434.38
814.92
36.2%
97.53
435.59
7.64
74.91
199.25
8.9%
(2.97)
196.28
8.7%
272.51
12.1%
20.06
48.46
127.76
5.7%
(0.07)
127.69
5.7%
38.59
44.75
1726.89
1203.79
523.10
30.3%
88.76
269.25
0.25
65.09
99.76
5.8%
77.19
176.95
10.2%
239.92
13.9%
39.67
17.30
119.98
6.9%
(2.57)
117.41
6.8%
3.30
2.04
1.88
95.00
85.44
3.15
(20.00)
27.36
2.80
14.62
Var (QoQ)
Var (YoY)
6.4%
9.0%
16.0%
9.7%
27.0%
23.9%
21.9%
51.0%
30.7%
97.9%
3.5%
-6.5%
7.9%
-0.8%
122.9%
13.7%
51.3%
3231.2%
14.1%
345.3%
90.5%
-191.1%
111.3%
66.2%
88.8%
562.3%
-29.0%
61.7%
234.8%
98.8%
72.2%
61.8%
76.0%
1.64
8
Income Statement: Consolidated excluding 3D PLM
Income Statement
Operating Revenue (in USD millions)
Exchange Rate
Operating Revenue
Cost Of Revenue (COR)
Contribution
Contribution as % of Operating Revenue
Sales, General & Administrative (SG&A) Expense
Interest and bank charges
Depreciation and Lease Rental
Operating Profit
Operating Profit as % of Operating Revenue
Other Income
Profit Before Tax
PBT as % of Operating Revenue
EBITDA
EBITDA as % of Operating Revenue
Tax
Minority Interest
Profit After Tax (for the period)
Prior Period Adjustment
Adjusted Profit After Tax
EPS
Non-recurring items
Less:Fx gain/(loss) on subsidiary asset revaluation
Add: Consultant Fee
EPS (adjusted for non-recurring items)
Q1 13
Q4 12
Q1 12
34.68
54.47
1888.98
1205.66
683.32
36.2%
429.25
7.01
33.63
213.43
11.3%
(0.24)
213.19
11.3%
251.28
13.3%
81.66
0.00
131.54
7.0%
0.00
131.54
7.0%
33.20
50.18
1666.03
1117.50
548.53
32.9%
458.60
6.32
34.88
48.73
2.9%
(5.67)
43.06
2.6%
78.89
4.7%
(17.79)
0.00
60.84
3.7%
(0.07)
60.78
3.6%
29.07
44.70
1299.56
945.24
354.31
27.3%
302.26
0.25
33.18
18.62
1.4%
50.37
69.00
5.3%
100.33
7.7%
8.99
0.00
60.00
4.6%
(2.57)
57.44
4.4%
2.10
0.97
0.92
95.00
(20.00)
14.62
85.44
1.95
27.36
1.73
0.00
0.69
Var (QoQ)
Var (YoY)
4.5%
8.5%
13.4%
7.9%
24.6%
19.3%
21.9%
45.4%
27.6%
92.9%
-6.4%
11.0%
-3.6%
338.0%
42.0%
2731.6%
1.3%
1046.0%
395.1%
-100.5%
209.0%
218.5%
150.5%
808.2%
116.2%
119.2%
116.4%
129.0%
9
Profit Trends
EBITDA as % of Revenue
25%
EPS
4.00
3.50
3.00
2.50
2.00
1.50
1.00
0.50
0.00
20%
15%
10%
5%
0%
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
FY10 FY11 FY11 FY11 FY11 FY12 FY12 FY12 FY12 FY13
PAT as % of Revenue
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Tax as % of Profit
Return on Net Worth
40%
40%
35%
35%
30%
30%
25%
25%
20%
20%
15%
15%
10%
10%
5%
5%
0%
0%
-5%
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Consolidated Revenue Analysis
Operating Revenues
Q1 FY13
Q4 FY12
4.80%
5.35%
38.41%
37.16%
47.52%
46.13%
10.52%
10.11%
Offshore
Other Income
Investment Income
Sale of Assets
FX Gain/(Loss)
Others
Total
Offsite
Q1 13
17.41
1.02
(91.85)
3.07
(70.35)
Onsite
% of OPR
0.7%
0.0%
-3.6%
0.1%
-2.8%
IP
Q4 12
11.81
0.39
(30.19)
15.02
(2.97)
% of OPR
0.5%
0.0%
-1.3%
0.7%
-0.1%
Q1 12
4.30
2.17
68.03
2.70
77.19
% of OPR
0.2%
0.1%
3.8%
0.1%
4.3%
*Onsite includes revenues in near shore centers in high cost countries
** Revenues shown as products in the previous quarters, are now being referred to as IP
11
Offshore Leverage
By Revenue
70
65
61
61
59
56
57
58
60
59
61
39
39
41
41
43
42
40
41
39
Q1 FY11
Q2 FY11
Q3 FY11
Q4 FY11
Q1 FY12
Q2 FY12
Q3 FY12
Q4 FY12
Q1 FY13
60
50
40
30
20
35
10
0
Q4 FY10
By Effort
100
86
85
85
84
85
84
85
85
84
81
14
15
15
16
15
16
15
15
16
19
Q4 FY10
Q1 FY11
Q2 FY11
Q3 FY11
Q4 FY11
Q1 FY12
Q2 FY12
Q3 FY12
Q4 FY12
Q1 FY13
80
60
40
20
0
Offshore
Onsite
Consolidated Revenue Analysis (excluding 3DPLM)
Operating Revenues
6.61%
Q4 FY12
Q1 FY13
7.24%
27.27%
27.80%
51.09%
Offshore
Other Income
Q1 13
Offsite
13.66%
51.83%
14.50%
Onsite
% of OPR
IP
Q4 12
% of OPR
Investment Income
12.49
0.7%
7.42
0.4%
Sale of Assets
(0.00)
0.0%
0.03
0.0%
FX Gain/(Loss)
(13.10)
-0.7%
(27.39)
-1.6%
Others
0.37
0.0%
14.26
0.9%
Total
(0.24)
0.0%
(5.67)
-0.3%
*Onsite includes revenues in near shore centers in high cost countries
Q1 12
0.81
47.05
2.51
50.37
% of OPR
0.1%
0.0%
3.5%
0.2%
3.7%
13
Offshore Leverage (Excluding 3DPLM)
By Revenue
70
60
54
50
40
30
46
52
48
54
57
58
59
56
56
55
46
43
42
41
44
44
45
Q3 FY11
Q4 FY11
Q1 FY12
Q2 FY12
Q3 FY12
Q4 FY12
Q1 FY13
20
10
0
Q1 FY11
Q2 FY11
By Effort
90
80
70
60
50
40
30
20
10
0
75
75
77
25
25
Q2 FY11
Q3 FY11
75
75
75
74
23
25
25
25
26
Q4 FY11
Q1 FY12
Q2 FY12
Q3 FY12
Q4 FY12
Offshore
68
32
Q1 FY13
Onsite
Consolidated Cost Analysis
Cost Of Revenue
Manpower
Q1 13
% of OPR
Q4 12
% of OPR
Q1 12
% of OPR
1,444.50
55%
1,294.71
58%
1,081.46
63%
Travel
54.76
2%
53.66
2%
59.68
3%
Software amortization
18.50
1%
17.22
1%
18.62
1%
Other Software
40.81
2%
52.65
2%
31.26
2%
Staff Welfare
10.32
0%
12.17
1%
10.27
1%
4.05
0%
3.98
0%
2.50
0%
1,572.94
60%
1,434.38
64%
1,203.79
70%
Data Communication
Total
S&M Expense
Q1 13
% of OPR
Q4 12
% of OPR
Q1 12
% of OPR
Manpower
82.36
3%
81.91
4%
68.80
4%
Travel
10.24
0%
8.25
0%
10.31
1%
Communication
0.00
0%
0.00
0%
-
0%
Other Business Expenses
8.33
0%
7.36
0%
9.64
1%
100.93
4%
97.53
4%
88.76
5%
Total
15
Consolidated Cost Analysis contd….
G&A Expense
Manpower
Travel
Facility
Recruitment
Training
Communication & Information
System
Insurance
Legal & Professional
Bad Debts
Others
Total
Depreciation & Lease Rentals
Facility Depreciation
Non-facility Depreciation
Lease Rentals
Total
Q1 13
100.87
9.04
107.68
8.71
3.19
% of OPR
3.9%
0.3%
4.1%
0.3%
0.1%
Q4 12
116.00
10.94
103.56
6.25
4.39
% of OPR
5.2%
0.5%
4.6%
0.3%
0.2%
Q1 12
101.94
9.33
81.56
9.72
5.07
% of OPR
5.9%
0.5%
4.7%
0.6%
0.3%
8.50
0.3%
5.89
0.3%
5.73
0.3%
5.71
0.2%
3.17
0.1%
2.87
0.2%
123.03
(7.07)
47.81
407.48
4.7%
-0.3%
1.8%
16%
54.09
91.56
39.74
435.59
2.4%
4.1%
1.8%
19%
19.63
(1.06)
34.45
269.25
1.1%
-0.1%
2.0%
16%
Q1 13
17.94
34.44
21.92
74.29
% of OPR
0.7%
1.3%
0.8%
2.8%
Q4 12
14.60
36.77
23.54
74.91
% of OPR
0.6%
1.6%
1.0%
3.3%
Q1 12
13.58
30.53
20.98
65.09
% of OPR
0.8%
1.8%
1.2%
3.8%
16
Cost Analysis : Consolidated excluding 3D PLM
Cost Of Revenue
Manpower
Travel
Software amortization
Other Software
Staff Welfare
Data Communication
Total
G&A Expense
Manpower
Travel
Facility
Recruitment
Training
Communication & Information System
Insurance
Legal & Professional
Bad Debts
Others
Total
Depreciation & Lease Rentals
Non-facility Depreciation
Lease Rentals
Total
Q1 13
1,088.88
53.21
18.35
38.26
2.96
3.99
1,205.66
% of OPR
58%
3%
1%
2%
0%
0%
64%
Q4 12
989.58
51.64
17.04
50.87
4.43
3.94
1,117.50
% of OPR
59%
3%
1%
3%
0%
0%
67%
Q1 12
828.52
59.18
17.87
30.33
6.84
2.50
945.24
% of OPR
64%
5%
1%
2%
1%
0%
73%
Q1 13
87.20
7.40
79.70
8.17
2.06
% of OPR
5%
0%
4%
0%
0%
Q4 12
105.11
8.93
77.55
5.36
1.06
% of OPR
6%
1%
5%
0%
0%
Q1 12
89.49
7.82
67.40
7.16
4.00
% of OPR
7%
1%
5%
1%
0%
7.41
0%
4.69
0%
5.19
0%
5.16
119.88
(7.07)
18.42
328.32
0%
6%
0%
1%
17%
2.59
51.06
91.56
13.17
361.07
0%
3%
5%
1%
22%
2.44
17.38
(1.06)
13.69
213.50
0%
1%
0%
1%
16%
Q1 13
4.04
8.68
20.90
33.63
% of OPR
0.2%
0.5%
1.1%
1.8%
Q4 12
4.78
7.70
22.41
34.88
% of OPR
0.3%
0.5%
1.3%
2.1%
Q1 12
5.73
7.49
19.97
33.18
% of OPR
0.4%
0.6%
1.5%
2.5%
17
REVENUE & CLIENT DATA Q1 FY13
18
Service Lines
Revenues Across Service Lines
30.00
23.76
25.00
20.42
20.00
17.21
17.73
20.77
23.61
20.88
18.25
14.72
12.06
25.48
20.03
18.74
15.00
24.26
15.60
15.57
16.78
13.36
9.99
10.00
5.00
8.36
2.27
1.87
2.00
2.46
2.36
2.11
2.07
2.21
2.40
2.29
Q4 FY10
Q1 FY11
Q2 FY11
Q3 FY11
Q4 FY11
Q1 FY12
Q2 FY12
Q3 FY12
Q4 FY12
Q1 FY13
-
Software Services
Engineering Services
IP
19
Service Lines
Percentage of Revenue Contribution
70%
61.80%
59.90%
60%
57.10%
56.30%
54.90%
57.40%
54.10%
55.40%
54.00%
53.31%
40.40%
39.40%
40.60%
41.90%
50%
40%
38.90%
37.60%
36.80%
36.90%
6.30%
7.00%
6.80%
6.20%
5.50%
5.00%
5.20%
5.40%
4.80%
Q1 FY11
Q2 FY11
Q3 FY11
Q4 FY11
Q1 FY12
Q2 FY12
Q3 FY12
Q4 FY12
Q1 FY13
33.80%
30.00%
30%
20%
10%
8.10%
0%
Q4 FY10
Software Services
IP
20
Regions
80%
70%
66.60%
66.40%
67.50%
67.40%
22.60%
21.90%
21.20%
21.20%
63.60%
68.90%
71.60%
72.00%
72.20%
72.53%
17.10%
17.20%
16.17%
60%
50%
40%
30%
25.60%
20.80%
20%
18.90%
10%
7.30%
6.10%
6.10%
5.50%
6.10%
6.10%
5.90%
6.40%
5.90%
6.09%
0%
3.50%
4.60%
5.50%
5.70%
5.30%
4.20%
3.70%
4.40%
4.70%
5.21%
Q4 FY10
Q1 FY11
Q2 FY11
Q3 FY11
Q4 FY11
Q1 FY12
Q2 FY12
Q3 FY12
Q4 FY12
Q1 FY13
USA
Europe
APAC
India
* previous period figures reinstated wherever classication changes to make it comparable
21
Customer Segments
70%
59.50%
60%
60.50%
61.90%
62.30%
62.50%
61.60%
59.30%
59.50%
34%
33.50%
6.40%
6.70%
7%
6.80%
Q1 FY12
Q2 FY12
Q3 FY12
Q4 FY12
61.49%
55.00%
50%
40%
37.80%
34.60%
31.10%
30.40%
29.70%
8.40%
7.70%
8%
Q3 FY11
Q4 FY11
31.10%
31.60%
32.96%
30%
20%
10%
7.20%
5.90%
5.55%
0%
Q4 FY10
Q1 FY11
Q2 FY11
Direct Industrial
Through Partners
Q1 FY13
Software ISVs
22
Verticals
Q1 13
21.55%
Q4 12
22.45%
43.71%
43.65%
33.90%
34.74%
Industrial
Vertical (%)
Automotive
Strategic
Q1 13
Q4 12
Q1 12
Industrial
43.7%
43.7%
33.8%
Automotive
34.7%
33.9%
40.6%
Strategic
21.5%
22.5%
25.6%
Vertical break-up excludes product and 3D PLM revenue
23
Customer Analysis
Revenue (%)
Q1 13
Top 1
Top 5
Top 10
Number of customers with more than 5% revenue
contribution
Clients
28%
61%
73%
Q4 12
28%
58%
70%
Q1 12
26%
54%
69%
2
3
4
Q1 13
Q4 12
> $ 10 million
$5 - $10 million
$1 - $5 million
< $1 million
2
5
19
70
Clients
Q1 12
2
4
19
84
Q1 13
2
5
16
73
Q4 12
Q1 12
Total number of active clients
95
109
96
Number of new clients added
6
4
5
New Clients – Q1 13
Industrial
Automotive
Strategic
Total
US
Europe
APAC
Total
1
2
1
3
1
2
1
1
1
2
3
6
24
Deal Analysis
Order Book (USD million)
Q1 13
New deals won
New Deal Analysis – Q1 13 (USD
million)
Q4 12
10.34
US
Europe
Q1 12
11.71
APAC
India
9.38
Total
3.74
0.22
0.51
0.53
5.00
Software Services
2.88
1.51
0.41
0.12
4.91
Products
0.01
0.30
0.11
0.00
0.42
Total
6.63
2.03
1.03
0.65
10.34
25
Business Highlights
Business Highlights
•
Strategic alliance with DIPRO, a leading provider of solution and services for CAD/CAM/CAE and BOM/PDM, to jointly tap the
Japanese market and create an offshore COE
•
Partner with Anark Corp. to launch a new 3D Model Based Enterprise (MBE) authoring and viewing solution, Anark Core™ MBEWeb™
•
Established a new delivery facility in an SEZ in Pune
•
Formed a consulting group to bring in a solution-based approach in all customer engagements and suggest unique architectures and
solutions to meet customer objectives
•
Launched a new Nesting module for its leading CAM software, CAMWorks®
•
Released DFMPro® version 3.2 for PTC® Creo® design software with configurable assembly checks for clearance and interference
Customer wins
• A Should Costing services engagement with the construction equipment division of European off-highway OEM
• Design engineering services to a global leader in air filtration systems
• Digital Manufacturing project with an industrial robotics major to support BIW cells for leading automotive OEMs in USA and South
America
• Expansion of an engagement with an American agricultural equipment company to support their product engineering needs in
Germany
• PLM application migration and upgrade project with a Swedish manufacturer of industrial equipment
• PLM application management services for an Indian automotive major
• Application maintenance and support project with an oil and gas technology equipment manufacturing and services company
• Multiple product development and services engagements with a leading PLM ISV
• PLM implementation project for an electrical systems and services provider for the transport industry in North America
26
OPERATIONS & HR DATA Q1 FY13
27
Operational Parameters
GL Consolidated
Revenue (%)
Time & Material
Fixed Price
Including Trainees
Excluding Trainees
Project Type (%)
Q1 13
77.4%
22.6%
Q4 12
80.2%
19.8%
Q1 12
81.3%
18.7%
Utilization (%)
Q1 13
87.6%
88.6%
Q4 12
89.3%
90.3%
Q1 12
85.3%
86.3%
Project Type (%)
Q1 13
67.9%
32.1%
Q4 12
72.8%
27.2%
Q1 12
74.5%
25.5%
Utilization (%)
Q1 13
83.7%
85.3%
Q4 12
84.9%
86.5%
Q1 12
79.9%
81.3%
GL Consolidated excluding 3D PLM
Revenue (%)
Time & Material
Fixed Price
Including Trainees
Excluding Trainees
28
Employee Base
4,271
4200
3600
3905
2956
3,144
3000
2400
1154
1128
1014
4,567
4,636
1526
1556
1595
3,041
3,969
3659
3,494
4,447
1195
1267
1474
1039
1800
1200
1942
2,105
Q4'10
Q1'11
2,710
2,702
2,921
3,011
2,505
2,797
2,366
Q2'11
Q3'11
Q4'11
Q1'12
Q2'12
Q3'12
Q4'12
600
0
Other subsidiaries
Headcount
Parent + Completely owned subsidiaries
Q1 13
Q4 12
Q1 12
3817
3832
3203
491
388
413
Operations Support
47
49
40
Sales
27
29
31
254
269
282
4636
4567
3969
Billed
Unbilled + Trainee
Corporate Functions
Total
Q1'13
Experience Profile
8.7%
16.7%
42.2%
< 3 years
3 - 6 years
32.4%
6 - 8 years
> 8 years
All numbers as of end of period
29
Recruitment and Attrition Analysis
247
600
160
500
180
375
400
300
63
593
200
100
227
490
334
290
254
208
339
109
425
121
173
447
380
343
-172
-170
279
283
0
-100
-118
-110
-178
-218
-174
-151
-158
-193
-163
-200
-300
Q3 10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13
Recruitment
Attrition
Recruitment Profile
3.5% 3.5%
Period
0-3 years
Attrition (%)
Q1 13
14.8%
Q4 12
15.7%
Q1 12
16.4%
3-6 years
31.6%
6-8 years
61.4%
8+ years
All numbers as of end of period
30
INDIAN GAAP
BALANCE SHEET & KEY FINANCIAL PARAMETERS
Q1 FY13
31
Balance Sheet Summary
Sources of Funds
Shareholder’s Funds
Share Capital
Share Application Money
Reserves & Surplus
Non-Current Liabilities
Current Liabilities
Minority Interest
Total
Q1 13
Applications of Funds
Non-Current Assets
Fixed Assets
Other Non-Current Assets
Current Assets
Current Investments
Trade Receivables
Cash and Cash Equivalents
Other Current Assets
Total
Q1 13
125.44
0.15
1512.77
83.69
2995.10
480.99
5198.14
Q4 12
125.34
0.39
1740.17
84.50
2429.31
541.14
4920.85
Q4 12
Q1 12
125.14
0.37
2200.66
91.49
965.62
371.67
3754.96
Q1 12
996.73
239.29
891.46
251.10
826.42
331.77
733.22
1634.71
524.90
1069.30
5198.14
695.62
1445.05
561.20
1076.41
4920.85
159.40
1312.43
180.43
944.52
3754.96
Balance sheet position as on period end
32
Key Financial Data
Parameter
CAPEX (INR million)
DSO
% Tax
Q1 13
200.90
62.29
35.5%
Q4 12
98.49
65.28
10.2%
Q1 12
73.72
72.02
22.4%
Outstanding Loans
Term Loan (USD million)
Working Capital Loan (USD million)
PCFC Loan (USD million)
Q1 13
0.00
8.75
1.78
Q4 12
0.00
9.75
3.45
Q1 12
0.00
0.00
2.35
Q1 13
Q4 12
Q1 12
Forward Contracts
(Data for USD/INR only)
Cash Flow Hedges (USD million)
Other Contracts (USD million)
Total (USD million)
Average Rate
> 12 M maturity (USD million)
MTM on Cash Flow Hedges (INR million)
MTM on Other Contracts (INR million)
Total (INR million)
148.37
13.87
162.25
174.61
11.90
186.51
150.85
150.85
49.95
63.80
49.70
85.97
48.55
70.60
(1,208.58)
(101.82)
(1,310.39)
(705.24)
(36.19)
(741.44)
200.18
200.18
Loans & Hedging position as on period end
33
GENERAL INFORMATION
Q1 FY13
34
Conference Call Details
• Q1 FY13 Results Conference Call on Monday, July 23, 2012 at 17:00 hrs IST
• Geometric will be represented by
• Mr. Manu Parpia, MD & CEO
• Mr. Arvind Kakar, Chief Financial Officer
• Dial-in details
Location
Access Number
Mumbai
+91 22 2824 8855
Local access number for other cities in India
1 860 200 3399
India Toll Free
1800 425 4249
Link to the country-wise access numbers
http://www.dsnl.co.in/accessnos.html
35
About Geometric
Geometric (www.geometricglobal.com) is a specialist in the domain of engineering solutions, services and
technologies. Its portfolio of Global Engineering services and Digital Technology solutions for Product Lifecycle
Management (PLM) enables companies to formulate, implement, and execute global engineering and manufacturing
strategies aimed at achieving greater efficiencies in the product realization lifecycle.
Headquartered in Mumbai, India, Geometric was incorporated in 1994 and is listed on the Bombay and National
Stock Exchanges. The company recorded consolidated revenues of Rupees 8.08 billion (US Dollars 167.51 million) for
the year ended March 2012. It employs 4500 people across 12 global delivery locations in the
US, France, Romania, India, and China. Geometric was assessed as CMMI 1.1 Level 5 for its software services and is
ISO 9001:2008 certified for engineering operations. The company’s operations are also ISO 27001:2005 certified.
For more information, please contact: [email protected]
36
END OF PRESENTATION
37
INTERPRETATION GUIDE FOR REPORTED DATA
38
Guide 1
Slide #
Item
Explanation
8,9
Income Statement
Income statement provided is in the MIS format.
MIS format is different from the income statement published as part of financial results in terms
of grouping of cost elements.
Key differences to be noted are as follows:
1. MIS format breaks-up operating costs as COR, S&M and G&A
2. Depreciation line item in MIS format also includes the lease rentals for computing
hardware (CAPEX equivalent) and excludes software depreciation which is clubbed under
software expenses in COR
3. FX gain/(loss) is grouped under Other Income in MIS format as against operating cost in
financials.
4. MIS Format provides only interest expenses whereas financial results clubs interest and
bank charges in one line item.
For EBITDA calculation, amortization software has been added and lease rentals
have been reduced in depreciation
11,12,13,
14
Onsite, Offshore and
Offsite
Onsite: Delivery from high cost country
Offshore: Delivery from low cost country, but in company premises
Offsite: Delivery from low cost country, but in customer premises
11,13
Investment Income
Investment income includes dividend from mutual funds, interest earned on bank deposits and
profit on sale of mutual fund investments.
15,16,17
Manpower
Manpower costs in MIS exclude staff welfare, but include mediclaim and group insurance costs
vis-à-vis personnel costs in financials
39
Guide 2
Slide #
Item
Explanation
15,16,17
Travel
Reimbursement of travel expenses are grouped under travel expenses while the same has been
grouped under other expenses in financial result advertisement
16,17
Facility
Facility costs include rent and service charges, electricity charges, repairs and maintenance
excluding that of EPABX and UPS
16,17
Includes depreciation on leasehold land, building, electrical installations, office equipments and
furniture and fixtures
16,17
Non-facility
Depreciation
Primarily consists of depreciation on computing hardware
16,17
Lease Rentals
Includes lease rent paid for computing hardware
19-23
Revenue Analysis
Analysis reported is for USD operating revenue
19,20
Service Lines
Software Services - PLM Solutions + OPD business
40
Guide 3
Slide #
Item
Explanation
22
Customer Segments
Software ISV segment consists of S/W product companies giving us OPD business. Strategic
Partner segment consists of S/W product and consulting companies engaging in PLM Solutions
and Engineering Services business. Direct Industrial segment consists of industrial companies
sourcing all types of services from Geometric.
28
Project Type Revenue
Analysis
Analysis reported is for USD operating revenue excluding Products and H/W reimbursement
revenue.
24
Customer Revenue
Analysis
Analysis reported is for USD operating revenue. Distribution is on the basis of annualized figures
(i.e. quarterly revenue x 4).
24
Client data
Customers for product service line are counted only if revenues are more than $5000/quarter.
25
Order Book
New deals won refers to new business wins with existing or new customers. This excludes rampup in or extension of existing contracts.
41
Guide 4
Slide #
Item
Explanation
29
Employee Base
Employee headcount reported includes all permanent employees and non-permanent
employees working on billed positions.
29
Experience Profile
Distribution reported is for all employees including sales and corporate support functions
30
Attrition
Only undesired attrition data is reported. Difference in the net addition reported on slide 24 and
difference in headcount reported in slide 23 is on account of desired attrition.
% Attrition reported is on an annualized basis.
Change in Q1 12 Attrition % compared to last quarter for like to like comparison
33
DSO
DSO reported is on a quarterly basis
33
% Tax
Includes impact of FBT and deferred tax
33
CAPEX
Includes normal CAPEX and purchase value of leased computing hardware
33
Outstanding Loans
All FX loans are revalued at the end of the quarter based on the closing exchange rate
33
Cash Flow Hedges
Forward contracts that classify for hedge accounting under AS30. MTM impact of these
contracts is taken to the balance sheet under Cash Flow Hedging Reserve. MTM impact of other
contracts hits the P&L as part of FX Gain/(Loss)
42

Analyst Presentation Q113

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